Events Industry Market

The events industry size was valued at $1,135.4 billion in 2019 and is expected to reach $1,552.9 billion by 2028, registering a CAGR of 11.2% from 2021 to 2028.

Events refer to public gathering of populace art at a determined time and place. The purpose for staging an event can be increase in business profitability, celebratory, entertainment, and community causes among others. The most popular events include conference & exhibition, corporate events & seminars, promotion & fundraising, music & art performance, sports, festival, trade shows, and product launch. The key stakeholders within the events market are corporate organizations, public organizations & NGOs.

The initial stage of a major event involves understanding the audience and their behavior that excites and emotionally engages them. The final stage involves conducting events, such as music concerts, sports, exhibitions & conferences, seminars, and others, appropriately. It has been witnessed that events such as music concerts attract majority of the population, especially the youth and middle-aged individuals, which boost the growth of the events industry size. Although the album sales have drastically reduced, shift in preference of artists and performers toward touring and conducting music concerts at various places across the world has further driven the events industry growth. In addition, rock and pop music dominates most of the markets, globally while the U.S. population prefers rap and hip-hop. Thus, increase in such music concerts and events offers valuable opportunities for promoters and brands to align themselves with people attending concerts. Furthermore, sports events have become more commercialized in the recent years. Thus, sports serve as a significant marketing advertisement opportunity for event management companies, which sponsor these events. In addition, sponsorships from various brands such as Redbull, Monster Energy, Nike, Cocoa Cola for major global three-day festival as well as small gig or act in a social club or arena boost the growth of the events industry. Moreover, deployment of best-in-class technology that can handle the entire event propels the industry growth. However, higher entry barriers and presence of alternatives are some of the major challenges of the market. On the contrary, increase in infrastructural investment and technological upgradation, such as projection mapping that creates an augmented reality of experience created through projectors as well as branded multi-use apps that are used to bool tickets, survey attendees, and polling crowds in real time accelerate the market growth. These factors are anticipated to offer ample opportunities for the players in the events industry.

The global events industry is segmented based on type, revenue source, organizer, age group, and region. Depending on type, the industry is divided into music concerts, festivals, sports, exhibitions & conferences, corporate events & seminar, and others. By revenue source, it is classified into ticket sale, sponsorship, and others. On the basis of organizer, it is categorized into corporate, sports, education, entertainment, and others. As per age group, it is segregated into below 20 years, 21–40 years, and above 40 years.

In 2019, based on type, the corporate events & seminars segment accounted for the maximum events industry share, owing to rise in number of corporate companies coupled with frequent seminars and events conducted by them. In addition, seminars and events involve interaction between speaker and audience, thereby increasing the number of attendees.

By revenue source, the sponsorship category garnered the highest share in 2019, due to unlimited opportunities the organizers find to broaden their competitive advantage. Moreover, sponsoring an event increases reach among potential buyers and customers, which drives the sales. On the basis of age group, the 21–40 years segment contributed to the maximum share in 2019, owing to rise in interest toward entrepreneur & business seminars along with music concerts and festive gatherings.

Region wise, Europe accounted for the highest revenue in 2019, as the region has been extremely successful in winning conferences of international associations with over half of the top cities and countries selected as destinations for international association conferences.

The key players operating in the events industry analysis focus on prominent strategy to overcome competition and to maintain as well as improve their events industry share in worldwide. The key players profiled in the report include Access Destination Services, BCD GROUP (BCD MEETINGS & EVENTS), ATPI Ltd., Riviera Events, Entertaining Asia, Live Nation Worldwide Inc., StubHub, Anschutz Entertainment Group, Pollstar, Cvent Inc., Capita Plc., Reed Exhibitions, Questex LLC, Outback Concerts, The Freeman Company, Penguins Limited, CL Events, Seven Events Ltd., Clarion Events Ltd, and Versatile Event Management.

Key Benefits For Stakeholders

• The report provides an extensive analysis of the current and emerging events industry trends and opportunities.
• The report provides detailed qualitative and quantitative analysis of the current trends and future estimations that help evaluate the prevailing events industry opportunities in the market.
• The events industry forecast is offered along with information related to key drivers, restraints, and opportunities.
• The market analysis is conducted by following key product positioning and monitoring the top competitors within the market framework.
• The report provides extensive qualitative insights on the potential and niche segments or regions exhibiting favorable growth.

 Events Industry Market Report Highlights